Melrose Industries maintains its 2015 interim dividend

DividendMax Ltd.

Melrose Industries maintains its 2015 interim dividend


Management action produced strong Elster profit improvement

Brush is performing broadly in line with earlier indications in a tough market

Melrose net debt at the half year was £742 million, representing a leverage of 2.7x

The Board has declared an interim dividend of 2.8p (2014: 2.8p) to be paid on 3 September 2015

Proposed sale of Elster to Honeywell for £3.3 billion, a multiple of 3.1x 2014 revenue and 14.3x 2014 headline EBITDA

The current intention is to return over £2 billion to shareholders following the sale

In addition £0.9 billion of pension liabilities, with an accounting deficit of £134 million, which include the Group's FKI UK and McKechnie UK defined benefit pension plans, will be transferred to Honeywell with the sale of Elster

Companies mentioned